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Sam Parr

👤 Speaker
8897 total appearances

Appearances Over Time

Podcast Appearances

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And so, for example...

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

What are some of those variables?

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

I would say one variable is endurance.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

So a lot of the people there had sold their company.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And like, if you just look at the people that sold their company for, let's call it 50 million, 150 million, 500 million, a lot of times that same company is now worth 5 billion.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And it's like, they just sold early and they were ready to move on.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And what's the difference between them and the guy who actually is worth 5 billion or their company's worth 5 billion?

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

They've just stayed at it longer.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

They stayed in the company for a longer period of time.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

So I would say an uncommon level of endurance is one.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

I would say there's a multiply by zero moment.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

So almost every company, there was like, tell me a story about when you almost failed.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And they're like, oh, happy to.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

I remember when it was Christmas time and we almost ran out of, we were growing fast.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

We actually ran out of cash.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

We didn't realize it because we were so dumb about inventory planning.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And so here we were, we were going to do $380 million in revenue and we were about to go broke.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And I had two weeks left and I had to go get a loan.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

I had to go get funding.

My First Million
I spent 48 Hours With 10 Billionaires. Here’s What I Learned.

And then the funding got pulled out within 24 hours of the deadline.